Post
Topic
Board Bitcoin Discussion
Re: India's money laundering rules to apply to Crypto Trade - Gov't notification
by
SeeBiscuit
on 08/03/2023, 21:33:19 UTC
F**ck man. It means, use of BISQ/HodlHodl/LocalCoinSwap or any other non-KYC P2P platform is now criminalized. Right? Cry
As long as you're not making any of the four things mentioned on behalf of another person or while you're running your own business this law is not affecting you, the moment you act like a broker or trader and play with user funds over these platforms it's getting complicated, normally you would have to keep track of the payments this way also, with full details of the recipient.
The law is not aimed at individuals, as long as you report your income and pay your taxes it doesn't really matter where that exchange is registered.
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